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GreaTOne_65
Senior Contributor

Re: Happy tax increase everybody!

And just where to you suppose you fit in? Your responce to Don, shows how little sense you have.

UNIranch
Senior Contributor

Re: Happy tax increase everybody!

I believe that the Republicans rejected raising taxes on millionaires not the Pres. Get it right. His proposal has moved towards the Rs and they wont accept a 1/1 deal(revenue/cuts). Pres. proposal is balanced no matter how Fox and friends wants to paint it.

r3020
Senior Advisor

Re: Happy tax increase everybody!


@UNIranch wrote:

I believe that the Republicans rejected raising taxes on millionaires not the Pres. Get it right. His proposal has moved towards the Rs and they wont accept a 1/1 deal(revenue/cuts). Pres. proposal is balanced no matter how Fox and friends wants to paint it.


How much does the the president's plan add to the national debt over the next 10 years?

Nebrfarmr
Veteran Advisor

Re: Happy tax increase everybody!

WASHINGTON: President Barack Obama was not ready to accept a new offer from the Republican leader of the US the House of Representatives to raise taxes on top earners in exchange for major cuts in entitlement programmes, a source said late on Saturday.

 

http://gulftoday.ae/portal/d8bcb762-01db-45be-9d7f-9d376040013d.aspx

 

 

Can you link, to the cuts Obama proposed?   I can't find any.   In fact, the only thing I can find coming from Obama, is from the Treasury Secretary, where he suggests $1.6 trillion in more taxes, and spending an extra $200 billion for stiumus.

UNIranch
Senior Contributor

Re: Happy tax increase everybody!

You guys dont see any further than Fox News. The cuts are right in front of your faces.

 

http://www.whitehouse.gov/blog/2012/12/11/president-obamas-record-and-proposals-cutting-spending

r3020
Senior Advisor

Re: Happy tax increase everybody!


@UNIranch wrote:

You guys dont see any further than Fox News. The cuts are right in front of your faces.

 

http://www.whitehouse.gov/blog/2012/12/11/president-obamas-record-and-proposals-cutting-spending


So, under the President's plan we add 6.684 trillion to the national debt over the next 10 years. Yeah, quite a plan.

Nebrfarmr
Veteran Advisor

Re: Happy tax increase everybody!

$1 trillion in cuts, over 10 years, is less than 10% of the deficit.  And that is mostly a reduction in spending increases, not an actual cut.

Even with the rosy projection, of doubling that to $2 trillion in savings, counting things like interest savings (which will fly out the window, if interest rates start to rise again), I still fail to see much in actual cuts.

 

The only actual CUT that I can see signed in by the Obama administration, was a cut to either Medicare or Medicaid.

 

Also, to tell the whole story, the 'slowest spending increase of any administration since Eisenhower' is only true, when you count the bailouts and Stimulus of Bush's last year, and not any kind of average speiding per administration.

 

GoredHusker
Senior Contributor

Re: Happy tax increase everybody!

The only time I ever watch Fox is when there's a football game.  One trillion over ten years is a pittance.  There are 100 tax deductions that cost the gov't one trillion a YEAR.  This is what the R's wanted to eliminate.  Yet, the POTUS rejected it.  100 billion a year does very little when we're running a trillion a year in deficits.  Even the partisan CBO stated the R's plan was better than Obama's plan.  If you want to hit the rich, you have to hit them where it counts:  tax deductions.  Like I stated, Obama's plan will have very little impact on Warren Buffett's taxes; and he's one of the richest people in America.  This is not a sound plan at all. 

 

Once Obama has finished his second term, it is highly likely we'll be staring down the barrel of a 20 trillion dollar deficit.  The U.S. taxpayer is already taking a big hit on the GM bailout by allowing GM to buy their stock back from us at a loss.  There are already several analysts that have stated for the past six months that regardless of who won the presidency GM would have to have another bailout within the next four years.  At some point in time, someone is going to have to stand up and command we put our shovels down.  The hole is just getting too deep. 

 

I find it truelly amazing how the D's fought Bush Jr. on the Bush tax rates, yet now they want to make them permanent for all but the top one to two percent.  Obama and Bush Jr. are very similar with regards to how they lead this country.  They both spend like drunken sailors, but neither wants to pay for it.  Both have handed us unfunded social programs via a prescription drug plan and Obamacare which will end up costing well over projections.  In the past several elections, we have in essence voted for a Japanes style economy.  We have no one to blame other than ourselves.